Cryptocurrency Platform Coincheck Intends to Enter the International Market

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As informs Bloomberg on May, 18th, Monex Inc promulgated plans on expansion of recently acquired cryptocurrency platform Coincheck. The company intends to bring the platform to the US territory.

Director of the company Oki Matsumoto said that supposedly Coincheck will receive a license to work in Japan next month. It should be noted that Matsumoto did not name the exact terms, but noted that Coincheck will expand its activities outside Asia:

“Japan may seem like it’s one step ahead in crypto, but in terms of deciding what’s a security or a token and attracting institutional investors, the U.S. and Europe are moving ahead.”

It is worth noting that Japan has long been in the forefront of the field of cryptocurrency and is one of the first countries to enter this field. Despite this, Matsumoto is confident that leadership in the cryptocurrency area has passed to the US and Europe.

“At [Japan’s] level, it’s hard to even think of crypto as something you’d put in your portfolio. That means it’ll just remain a plaything for speculators.”

According to Matsumoto, it is the US regulators that set the general trends in the cryptocurrency area and have the greatest impact on the development of digital currencies in the economic sector.

The decision to withdraw Coincheck to the international arena is one of the most important aspects of the activities of the exchange after the accounts of the company was hacked in early 2018. According to the publication Bloomberg, since the moment Monex acquired Coincheck, the company’s shares rose by 98%.

According to official reports, despite the hacking, the loss of a significant part of assets and damages to the victims, according to official reports, the platform was able to close the financial year in positive territory. The company’s revenue was about $56.7 mln.

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